Israeli trading platform eToro filed a confidential US IPO prospectus, aiming for a valuation above US$5 billion.

This follows a failed 2021 SPAC merger targeting US$10 billion, later replaced by a US$250 million private funding round in 2023 at a US$3.5 billion valuation.

Led by CEO Yoni Assia, eToro employs 1,700 people and expanded its portfolio with a US$55 million acquisition of Australia’s Spaceship in 2023.

In September 2023, eToro settled with the SEC over unregistered broker allegations, paying a US$1.5 million fine without admitting wrongdoing.

Recent eToro developments